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06 Nov 2007, 13:06
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N
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Danny bought A shares of Apple Inc for $15 per share.
He also bought A shares of Dell Inc for $20 per share.
A month later, he sold all shares at $20 per share and made a profit of $200.
What is A?
35
400
952
50
40
He also bought A shares of Dell Inc for $20 per share.
A month later, he sold all shares at $20 per share and made a profit of $200.
What is A?
35
400
952
50
40
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06 Nov 2007, 13:48
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bmwhype2
Write equation for cost of apple shares plus cost of dell shares = total cost
15A + 20A = T
35A = T
Write equation for final value when shares are sold where 2A equals total shares sold.
20(2A) = T + 200
40A = T + 200
Therefore,
40A = 35A + 200
5A = 200
A = 40
06 Nov 2007, 14:21
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bmwhype2
My approach was similiar:
Since no profit was made with the Dell stock (figures) just ignore it since we're talking about profit here.
purchase + $200 profit = sold
15A + 200 = 20A
A=40
